extreme weather

Property insurance for a solar project, having been an easy “check the box” issue 10 years ago, is fast becoming a top credit item for securing financing from banks, according to the head of a data analytics and insurtech firm.

The US’s blocked solar supply chain combined with the threat of operational modules being damaged by extreme weather could leave project developers and asset owners at risk of revenue loss as replacement equipment becomes hard to source.

More than 315 clean energy companies in the US have called on the country’s International Code Council (ICC) to reject a FEMA proposal on PV project construction standards

Current testing for solar modules is inadequate to account for the rising severity of extreme weather events in North America, according to a report from renewable energy project underwriter GCube Insurance.

The board of directors of the US Midcontinent Independent System Operator (MISO) has approved a US$10.3 billion portfolio of 18 transmission projects as part of efforts to integrate new generation resources and increase resiliency in the face of severe weather events.

A steep decline in solar irradiance in Spain earlier this year highlights the need for an interconnected European grid and increased investments in forecasting, according to PV data firm Solargis.

As solar finds itself deployed in further and more far flung climes, it is also having to operate in increasingly harsher climates. In this article, VDE Renewables assesses how such climates affect PV performance and what must be taken into consideration when formulating O&M strategies.

Prior to 2019, there was an ample number of insurers willing to provide renewable energy insurance, leading to plentiful, affordable cover being available for solar power project finance transactions. However, with increased claims and risks, price rises and lower availability of cover is impacting the sector. Duncan Gordon, head of Renewable Energy at specialist energy insurance brokerage and risk management firm Gallagher, provides an overview of how solar power project owners can navigate a challenging insurance market.

Hit by soaring electricity prices and widespread power outages during a severe cold weather event earlier this year, Texas homeowners have been ramping up rooftop solar and battery storage installs to protect against future blackouts and increase their energy independence.

The cost of insuring operational solar farms has skyrocketed over the course of the year, triggered by carriers rethinking their approaches to natural catastrophes and other extreme weather events. This has placed additional importance on mitigation strategies. Kevin Christy, COO for North America at Lightsource bp, details how the solar developer has adapted its strategy in the field.